Category Archives: Economics on the left

Is it really that hard to understand that unproductive public spending lowers productivity?

Is there anyone anywhere who actually believes that the present recovery in the US has anything to do with Obama? Actually there are lots of people just as ignorant as that, amongst whom is Obama himself. I get the same … Continue reading

Posted in Classical Economics, Economics and economy, Economics on the left | 22 Comments

All forms of Keynesian theory are nonsense but the Milton Keynesians may be the worst

So earnest, so learned, so stupid. A different kind of Keynesian. That she tries to make the point that living standards have not risen for we normal citizens since incomes have not risen along with rising productivity represents a kind … Continue reading

Posted in American politics, Economics on the left | 31 Comments

Paul Krugman and the strawman economy

Got sent the following from Quora yesterday at the same time that Judy put up her own post on Paul Krugman: Paul Krugman, Nobel Laureate economist, NYT op-ed columnist, & author, answered 44 questions. Here are a few, but let … Continue reading

Posted in Economics and economy, Economics on the left | 10 Comments

Attack of The Killer Climate! BIS Buys Into A Monster Movie

THE funniest thing about German director and writer Roland Emmerich’s 2004 meteorological disaster flick The Day After Tomorrow is that it was made to cash in on climate hysteria but had to accelerate catastrophe so it could be concertinaed into … Continue reading

Posted in Economics on the left, Fake News | 32 Comments

Wollemi ace now wants an end to coal exports … and debate

DOUBTLESS enlivened by the success of a multi-million dollar, emission-spewing mission to save some non-rare trees in a national park somewhere – which may or may not have been endangered by fire anyway – NSW environment minister Matt Kean has … Continue reading

Posted in Economics on the left, Politics of the Left | 57 Comments

Learned ignorance page after page

Went into a bookshop today and went to the politics section and this was a part of the selection of what I found. There must have been around a dozen books on American politics, they were all desperately anti-Trump and … Continue reading

Posted in American politics, Books and writing, Economics on the left | 35 Comments

Magic Pudding Monetary Theory (MMT)

The most important element in understanding how an economy works is to begin from its resource base, its existing infrastructure, its labour force and its entrepreneurs. Then mix in the laws and regulations, along with the personal beliefs of the … Continue reading

Posted in Economics and economy, Economics on the left | 16 Comments

From slap to slapdash in 24 hours

HAVING achieved the noteworthy feat on Tuesday of becoming the first Roman pontiff in history to slap a Chinese lady, Pope Francis made violence against women the theme of his New Year’s Day Mass homily on Wednesday. It’s not hard … Continue reading

Posted in Economics on the left, Western Civilsation | 34 Comments

Inflation and its consequences

As you read this, remember that “inflation” in pre-Keynesian times did not mean a rise in the price level but an increase in credit and money. Sometimes prices also rise but sometimes they do not which is why Mises describes … Continue reading

Posted in Classical Economics, Economics on the left | 9 Comments

The ABC is ecstatic: “free market capitalism is facing a challenge”

From the economically-illiterate ABC: Modern monetary theory is gaining traction. But can it knock out free market capitalism? [Sorry if I am repeating from CL.] Socialist grifters that they are, they have zero understanding how wealth is created and therefore … Continue reading

Posted in Economics and economy, Economics on the left | 25 Comments